Litecoin Forecast – Why you should get out of Litecoin

Litecoin price has managed to rally a bit after hitting the $40 support. After this rise there was a small correction which we are in at the moment. However, price has reached the golden pocket of the current minor downmove in the current weekly candlestick. Should this GoldenPocket hold, we assume a positive course behavior in the next few weeks. The price could go up to around $63 without any problems. With this rise, the price would confirm the break of the former support and at the same time see it as resistance. After that, however, it could go south again. The next target would be at $40 again. Litecoin price will break the $40 support sooner or later. This is very likely

If Litecoin price breaks the $40 support, which is very likely, the next support is around $25. This was the bottom from the last bear market as well as the bottom from the “corona sell off”. Should this support fail as well, which should not be ruled out as the probability is not too small, it would end the bull trend in the annual chart. Price would form a downtrend on the parent chart. The Litecoin course would then have formed a lower high and a lower low, which is the crucial factor in trend recognition.

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